Pursuits
Samsung’s Lee Tightens Grip on Chaebol in $9.3 Billion Deal
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Samsung Group heir apparent Lee Jae Yong solidified his control of South Korea’s biggest conglomerate through the $9.3 billion purchase of a construction subsidiary.
Cheil Industries Inc., the de facto holding company of the chaebol and which counts Lee as the largest shareholder, agreed to acquire Samsung C&T Corp., according to a filing Tuesday. Shares of both companies surged a second day.